McDougall Management Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC304994 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2014

FOR

MCDOUGALL MANAGEMENT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

P J McDougall

SECRETARY:

P J McDougall

REGISTERED OFFICE:

58A Broughton Street

Edinburgh

EH1 3SA

REGISTERED NUMBER:

SC304994 (Scotland)

ACCOUNTANTS:

Danzig Limited

Chartered Accountants

6 St Colme Street

Edinburgh

Lothian

EH3 6AD

FIXED ASSETS

Tangible assets

2

363

809

CURRENT ASSETS

Debtors

9,600

13,628

Cash at bank and in hand

14,095

396

23,695

14,024

CREDITORS

Amounts falling due within one year

(23,957

)

(14,500

)

NET CURRENT LIABILITIES

(262

)

(476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

101

333

PROVISIONS FOR LIABILITIES

(73

)

(162

)

NET ASSETS

28

171

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

27

170

SHAREHOLDERS' FUNDS

28

171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved, and authorised for issue by the director on 24 February 2015 and were signed by:

P J McDougall - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date, where transactions or events that resulting in an obligation to pay more tax in the future or a right to

pay less tax in the future have occurred at the balance sheet date.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all

available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against

which to recover carried forward tax losses and from which the future reversal of underlying timing differences

can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing

differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Government grants

Government grants are recognised in the profit and loss account, so as to match grants with the expenditure

towards which they are intended to contribute.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

1,961

Disposals

(882

)

At 31 July 2014

1,079

DEPRECIATION

At 1 August 2013

1,152

Charge for year

360

Eliminated on disposal

(796

)

At 31 July 2014

716

NET BOOK VALUE

At 31 July 2014

363

At 31 July 2013

809

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within 'other creditors' is an amount of £10,902 (2013: £6,749) due to P J McDougall, director of the

company. There are no fixed repayment terms in respect of this balance and no interest is charged.